Land Securities boss Rob Noel has called the addition of a 30% stake in Bluewater shopping centre in Kent a “silver bullet”.
Speaking after the firm released a trading update for the three months to 30 June, Noel said the UK’s largest REIT was on a very clear path.
He said: “We are going to have a very, very strong business in two years’ time, with the completion of the development portfolio… ?and a silver bullet asset in the retail portfolio.”
The firm will focus on asset management at the 1.8m sq ft centre. It acquired full management rights and 110 acres of land along with the 30% stake in a £696m deal from Lend Lease last month.
